When to set up a backdoor Roth?

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When to set up a backdoor Roth?

Post by RaeE27 » Tue Jan 14, 2020 11:19 am

I’m currently on the cusp on having an income that is too high to directly contribute to my Roth IRA. My question is if I think in 2020, my income will most likely increase to an amount greater than the limit, should I do a backdoor Roth in 2020 or can I continue to contribute to my Roth as normal until my income changes?

Silk McCue
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Re: When to set up a backdoor Roth?

Post by Silk McCue » Tue Jan 14, 2020 11:23 am

There is no downside risk to doing a Backdoor Roth. Just a couple of extra steps. On the flip side it takes more work and complexity to correct an excess contribution by recharacterizing it then performing the Backdoor Roth.

Go Backdoor Roth now.

Funny - I was the first person to reply to your first post here last June regarding Backdoor Roth. You received five responses to your question then and did not come back and comment back or leave a simple thanks. Going forward, that is bad form.


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Re: When to set up a backdoor Roth?

Post by LadyGeek » Tue Jan 14, 2020 3:30 pm

renegade06 has a question which I've moved to a new thread. See: [Should I move money from my TSP account to a traditional IRA?]
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